2010 IRA Conversion to a Roth
In 2010, can an individual convert some of their IRA’s or does it have to be all? In addion, can an individual only convert non deductible IRA’s and not the other IRA’s?
In 2010, can an individual convert some of their IRA’s or does it have to be all? In addion, can an individual only convert non deductible IRA’s and not the other IRA’s?
Permalink Submitted by Al Fry on Sat, 2009-02-14 04:39
One can convert as much of their IRA as they want. Remember, though, from an IRS perspective, a person only has one TIRA. In other words, all TIRA are combined and any cost basis in one is spread pro-rata among all TIRAs. So if one has one non-deductible that is 10% of all of one’s IRA values, and converts it to a Roth, 90% of it will be taxable.